U.S. Capitol Building on a sunny day Source: Shutterstock.

Financial trade groups last week urged House-Senate conferees to include updated anti-money laundering legislation to the annual defense authorization bill — one of the last measures that members of Congress consider as a must-pass bill.

“All of the bad actors we work to hold accountable have adopted increasingly sophisticated methods for laundering money — yet every one of them relies on secrecy as a common feature of their schemes,” the groups, including NAFCU, banking trade groups and several government watchdog groups, wrote in a letter to leaders of congressional Armed Services Committees.

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David Baumann


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